JTL Industries stock rises 5% after SBI General Insurance;

Shares of JTL Industries have become multibagger stocks over the past three years. In three years, the stock generated returns of 1618.14 percent.

Its products include mild steel angles and channels, hollow sections, LTZ sections, and tubes and pipes made of galvanized steel. — *The price of JTL Industries’ stock is above the 20-day, 50-day, 100-day, 150-day, and 200-day moving averages but below the 5-day and 10-day moving averages.*

After SBI General Insurance Company purchased 6 lakh shares of the company that manufactures electric resistance welded (ERW) steel pipes through open market transactions on Wednesday, JTL Industries’ stock increased by more than 5% today.

On the BSE, shares of TL Industries increased 5.20% to Rs 211.30. The company’s market value increased to Rs 3539.60 crore. A total of 0.22 lakh shares of the company were traded, resulting in a turnover on the BSE of Rs. 45.18 crore.

The last three years have seen JTL Industries shares become multibaggers. In three years, the stock generated returns of 1618.14 percent. The stock increased 146% and 99% over the course of two years and one year, respectively.

Technically speaking, the relative strength index (RSI) of the JTL Industries stock is 49.4, indicating that it is neither overbought nor oversold. The price of JTL Industries’ stock is above the 20-day, 50-day, 100-day, 150-day, and 200-day moving averages but below the 5-day and 10-day moving averages.

Compared to a profit of Rs 11 crore during the same period last year, the company posted a profit of Rs 25.4 crore in the quarter ending June 2023.